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Why don't other countries have problems with payday lending? My guesses: - People aren't as desperate - Lending can only happen though banks - Loans can't b
by jopsen 8y ago
Why don't other countries have problems with payday lending?
My guesses:
- People aren't as desperate
- Lending can only happen though banks
- Loans can't be given to you can't prove reasonable chance of repayment
- You can't garnish people paycheck below a certain amount, so payday lender would never get any money.
Any other explanations?
- viraptor 8y ago> Why don't other countries have problems with payday lending? Why do you think they don't?
- jopsen 8y agoI live in Denmark... I haven't seen any payday lenders. Sure you can get a loans from companies that seem sketchy, but the amounts are more in the range of 2-5k USD, not a few hundred dollars..
- pessimizer 8y agowonga